Arcus Capital Partners LLC Raises Stake in Ready Capital Co. (NYSE:RC)

Arcus Capital Partners LLC lifted its position in shares of Ready Capital Co. (NYSE:RC) by 233.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 59,884 shares of the real estate investment trust’s stock after purchasing an additional 41,944 shares during the period. Arcus Capital Partners LLC’s holdings in Ready Capital were worth $408,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Avion Wealth purchased a new position in Ready Capital in the 4th quarter worth approximately $47,000. KBC Group NV lifted its holdings in shares of Ready Capital by 64.1% in the third quarter. KBC Group NV now owns 8,318 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 3,248 shares in the last quarter. Modera Wealth Management LLC purchased a new position in shares of Ready Capital in the third quarter worth $107,000. Fisher Asset Management LLC purchased a new position in shares of Ready Capital in the third quarter worth $116,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Ready Capital in the second quarter worth $126,000. Hedge funds and other institutional investors own 55.87% of the company’s stock.

Analysts Set New Price Targets

RC has been the topic of several research analyst reports. UBS Group decreased their price target on shares of Ready Capital from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Friday, November 15th. B. Riley reiterated a “neutral” rating and issued a $10.00 target price (down from $12.00) on shares of Ready Capital in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $6.75 to $6.25 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Finally, JMP Securities decreased their price objective on Ready Capital from $10.50 to $9.50 and set a “market outperform” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.61.

Ready Capital Price Performance

Shares of NYSE RC opened at $6.59 on Friday. Ready Capital Co. has a 12-month low of $6.39 and a 12-month high of $9.53. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.67 and a current ratio of 1.67. The firm’s 50-day moving average price is $6.96 and its 200-day moving average price is $7.46.

Ready Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 15.19%. Ready Capital’s dividend payout ratio (DPR) is presently -142.86%.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.